Florida and New York are seeking legislation that will advance the $8000 New Home Buyer Tax Credit to first-time buyers---so they can apply it towards their down payment---instead of having them wait for the credit when they file or amend their tax returns.This is great news for potential and credit-worthy first time buyers that want to buy a home they can now afford, but just don't have the down payment---3.5% for FHA backed mortgages, 20% down for Conventional---needed to secure the property.
Florida Governor Charlie Crist supports this initiative brought forth by the National Association of Realtors (NAR). Missouri is the first state to approve and move forward with the upfront tax credit to first-time home buyers, and New York is following suit.
As Clearwater and Tampa Bay Real Estate grows with the addition of more distressed properties---we hope this legislation will succeed and allow for more prospective buyers to purchase homes they otherwise would not have considered.
Florida Governor Charlie Crist supports this initiative brought forth by the National Association of Realtors (NAR). Missouri is the first state to approve and move forward with the upfront tax credit to first-time home buyers, and New York is following suit.
As Clearwater and Tampa Bay Real Estate grows with the addition of more distressed properties---we hope this legislation will succeed and allow for more prospective buyers to purchase homes they otherwise would not have considered.
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